Indian hospitality chain Oyo Hotels & Homes (OYO) has received its board approval to raise $1.5 billion in primary capital infusion from its largest investor, SoftBank Vision Fund, and RA Hospitality.
According to the company’s filing with the Registrar of Companies (RoC) sourced by paper.vc, it has issued 15,325 Series F compulsorily convertible cumulative preference shares (CCCPS) to SVF India Holdings Cayman Islands-registered entities at a price of $52,643.22 a share. On the other hand, RA Hospitality has been issued 13,169 equity shares at the same price.
